VCI Wealth Management LLC Makes New Investment in American International Group, Inc. $AIG

VCI Wealth Management LLC purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,927 shares of the insurance provider’s stock, valued at approximately $1,706,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIG. Swiss National Bank lifted its holdings in American International Group by 4.3% in the first quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after acquiring an additional 65,400 shares during the period. Freestone Grove Partners LP boosted its position in American International Group by 51.5% in the second quarter. Freestone Grove Partners LP now owns 1,925,980 shares of the insurance provider’s stock worth $143,543,000 after purchasing an additional 655,065 shares during the last quarter. KBC Group NV grew its stake in shares of American International Group by 5.8% during the 1st quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock valued at $25,868,000 after purchasing an additional 18,812 shares during the period. State Street Corp increased its position in shares of American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock valued at $1,871,852,000 after purchasing an additional 196,969 shares during the last quarter. Finally, Algebris UK Ltd. increased its position in shares of American International Group by 98.4% during the 2nd quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider’s stock valued at $91,772,000 after purchasing an additional 612,790 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Up 0.7%

AIG stock opened at $82.45 on Tuesday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market cap of $43.11 billion, a P/E ratio of 15.07, a PEG ratio of 0.84 and a beta of 0.52. The business’s 50-day moving average price is $77.19 and its 200-day moving average price is $76.80.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the company posted $1.81 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 8.07 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is presently 36.56%.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AIG shares. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald cut their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research report on Tuesday, September 29th. Piper Sandler upped their target price on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, HSBC decreased their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.68.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.